The Kent Local Board of Education voted to act on the district’s permanent appropriation resolution and reviewed a fall forecast that warns of a growing multi‑year budget gap.

Finance staff told the board the district’s assessed property values rose from $468,000,000 in 2022 to $610,000,000 in 2024, and that residential valuation for the 2024 tax year was listed at $299,000,006.51. The presenter said those valuation changes, combined with a near‑term decline in state aid and modest enrollment shifts, are driving a complicated revenue picture.

“Last year we collected $30,700,000. Pretty much the same number this year projected, when we factor in the loss of state revenues, but the increase that we’ve seen in property tax revenues and public utilities,” the finance presenter said while reviewing the green‑sheet valuation exhibits. The presenter also described state simulations attached to the materials, noting FY25 state support at $10,100,000 and preliminary simulations showing a potential reduction in foundation funding that could total roughly $400,000 to $900,000 depending on final state calculations.

The forecast projects the general fund balance ending FY26 at just under $8.7 million and dipping below $4.5 million by FY29 under current assumptions. The presenter warned that, even with some projected retirement savings, the district could face shortfalls in later years absent additional revenue or cost reductions: “We’re about $1,800,000 in the hole for spending for fiscal year 28,” the presenter said in the forecast discussion.

Board members pressed staff on mitigation options. Trustees and staff discussed retirement‑driven savings, trimming personnel where feasible, and keeping a conservative budgeting posture. Finance staff said a combination of additional retirements, careful replacement strategies, and targeted cost‑control conversations would be the primary levers to narrow projected gaps.

The board moved to act on the appropriation items and the fall forecast after discussion. The presenter advised that the district remains at the state’s funding guarantee for now but flagged risks if the guarantee were changed at the state level.

What’s next: staff recommended approval of the fall forecast for the board’s records and suggested continued budget monitoring and follow‑up at upcoming meetings; no new levy was placed on the record during this session.